Surge Energy (TSE:SGY) Share Price Crosses Below Fifty Day Moving Average – Here’s Why

Surge Energy Inc. (TSE:SGY)’s share price passed below its fifty day moving average during trading on Thursday . The stock has a fifty day moving average of C$7.01 and traded as low as C$6.61. Surge Energy shares last traded at C$6.72, with a volume of 416,308 shares.

Analysts Set New Price Targets

Several brokerages recently weighed in on SGY. Raymond James Financial downgraded Surge Energy from a “moderate buy” rating to a “hold” rating in a research note on Tuesday, December 9th. ATB Capital increased their price objective on Surge Energy from C$8.25 to C$9.75 in a research report on Friday, November 21st. One investment analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat, Surge Energy presently has a consensus rating of “Buy” and a consensus target price of C$9.08.

Surge Energy Price Performance

The company has a market cap of C$664.93 million, a price-to-earnings ratio of 14.93, a price-to-earnings-growth ratio of 0.59 and a beta of 0.20. The company has a current ratio of 0.66, a quick ratio of 0.40 and a debt-to-equity ratio of 31.48. The company has a fifty day moving average price of C$7.01 and a two-hundred day moving average price of C$6.94.

Surge Energy (TSE:SGY) last issued its earnings results on Wednesday, November 5th. The company reported C$0.07 EPS for the quarter. Surge Energy had a negative return on equity of 10.13% and a negative net margin of 13.88%.The firm had revenue of C$119.99 million during the quarter.

Surge Energy Dividend Announcement

The firm also recently announced a monthly dividend, which was paid on Monday, November 17th. Stockholders of record on Monday, November 17th were given a dividend of $0.0433 per share. This represents a c) annualized dividend and a dividend yield of 7.7%. The ex-dividend date was Thursday, October 30th. Surge Energy’s payout ratio is 115.55%.

Surge Energy Company Profile

Surge Energy Inc is engaged in the exploration, development, and production of oil and gas from properties in western Canada. The company generates its revenue from the sale of petroleum and natural gas products such as Oil, Natural gas liquids and Natural gas, of which a majority of the revenue is derived from the sale of oil.